Busan News

Imagine stepping outside your home and within 15 minutes, you can visit the doctor, drop off your children at school, relax in a park, or buy groceries—all without needing a car. This is the vision Busan promises with its ambitious 15-Minute City initiative, a plan designed to make essential services more accessible, reduce carbon emissions, and improve quality of life. On paper, it seems like an urban utopia—a model for cities worldwide to follow. But for residents in Busan’s western districts

Busan, South Korea - To enhance the global competitiveness of South Korean small and medium-sized enterprises (SMEs), the Ministry of Oceans and Fisheries and Busan Port Authority have inaugurated a new logistics center near the Los Angeles and Long Beach (LB) ports. The center, a public-private collaboration, will offer Korean SMEs access to reliable logistics services at 10-15% lower rates than standard market prices, helping them gain a stronger foothold in the critical U.S. market. Spanning

Busan, South Korea - As the world emerges from the shadow of the COVID-19 pandemic, one city has not only regained its former stature as a top tourist destination but has also surged ahead with unprecedented growth. Busan, South Korea’s dynamic coastal metropolis, has welcomed 1.38 million foreign visitors in the first half of 2024—an achievement that surpasses even its pre-pandemic numbers. This remarkable recovery is more than a return to normal; it marks the dawn of a new era in which Busan i

Busan, South Korea - BGF Retail, the operator of South Korea’s largest convenience store chain CU, has officially begun construction on what is set to become the country’s largest logistics center for the convenience store industry. The groundbreaking ceremony took place on September 3, 2024, in Busan, marking a significant milestone in the company’s ambitious expansion and modernization efforts. The ceremony, held at the Busan International Industrial Logistics City in the Gangseo-gu District,

Busan, South Korea — As part of its ambitious plans to rejuvenate its waterfront areas, Busan has invited Boston’s urban design expert, Ju Jung-Joon, to share insights from the successful redevelopment of Boston’s South Boston Waterfront. The area, once an industrial zone, was transformed into a bustling mixed-use district following Boston's "Big Dig" project, which rerouted highways underground, reconnecting the city to its waterfront. The South Boston Waterfront, also known as the Seaport Dis

Busan, South Korea – The highly anticipated 19th Busan Fireworks Festival is set to light up the city’s skyline on November 9, 2024. As one of South Korea’s most celebrated events, this year’s festival promises to be more spectacular than ever, with enhanced fireworks displays over the iconic Gwangan Bridge. Ticket sales for reserved seating have officially begun, offering global visitors a chance to secure the best views for this dazzling spectacle. The Busan Fireworks Festival, which first be

Busan, South Korea – Nongshim, a major player in the global food industry, has recently announced a bold investment of approximately $143 million to build a new export-only ramen factory in Busan. This strategic move is designed to double the company's annual export production to 1 billion units by the first half of 2026, as Nongshim seeks to capitalize on the soaring global demand for Korean cuisine. The decision to situate the new factory within the Noksan National Industrial Complex in Busan

Busan, South Korea — The consortium of Dong-A University and Dongseo University has been selected for the 2024 Glocal University initiative by the South Korean Ministry of Education. This initiative, known as "Glocal University 30," is part of a national program aimed at fostering universities with global competitiveness that can drive local economic and social growth. Launched last year with the selection of 10 universities, the program will continue through 2026, ultimately selecting a total

Busan, South Korea – The southern coast of South Korea is set to witness a thrilling maritime spectacle as the 2024 Namhae Cup International Yacht Race launches from Yeosu on August 29. This event, which runs until September 1, is expected to attract top-tier sailors and yachting enthusiasts from around the world, as they navigate the challenging waters that link Yeosu, Tongyeong, and Busan. Co-hosted by the cities of Busan, Tongyeong, and Yeosu, this year’s Namhae Cup marks the fifth iteration

Busan, South Korea - Busan’s Fisheries Resources Research Institute has set a new standard in sustainable aquaculture by successfully farming Atlantic salmon using a recirculating aquaculture system (RAS). This marks the first time that such a system has been implemented in South Korea, a significant stride towards eco-friendly fish farming practices in the region. The milestone was celebrated with a public tasting event on August 28, 2024, at Busan City Hall, offering the public a first taste o

Busan, South Korea — The real estate market in Busan is facing significant challenges as of August 2024, due to a combination of economic pressures, demographic shifts, and an oversupply of new apartment units. These factors contribute to a complex and uncertain outlook for the city's property market, raising concerns among investors, homeowners, and policymakers. The situation in Busan contrasts sharply with the bullish market trends seen in Seoul, highlighting the divergent fortunes of South K

Busan, South Korea – The City of Busan has announced an update to its transportation policy: starting January 10, 2025, the toll fees for the Baekyang Tunnel will be removed. This decision follows the expiration of the current management contract with the private operator on January 9, 2025, marking the end of the toll collection period. The Baekyang Tunnel, which has served as a crucial route connecting the western and central parts of Busan since its opening in 2001, has long been a toll road